Red Robin

Red Robin

5029 Pinnacle Square
Birmingham, AL

Price: $1,843,000
Cap: 6.50%
NOI: $119,790
Building Size: 6,350 SF
Lot Size: 1.67 AC

Investment Highlights

ADJACENT TO 500,000 SF TARGET & HOME DEPOT ANCHORED SHOPPING CENTER
• The subject property is an outparcel to The Pinnacle Trussville, a 75+ acre lifestyle center containing over 445,000 square feet of premium shopping with tenants including At Home, Belk, Best Buy, and JCPenney.
• Directly behind The Pinnacle Trussville is a 500,000 SF shopping center with national tenants including Target, Home Depot, TJ-Maxx, Academy Sports, and more.
• There is 2.9M SF of retail in a 1-mile radius of this Red Robin including a Walmart Supercenter, Lowes Home Improvement, ALDI, Hobby Lobby, Chick-fil-A, and many more.

DIRECTLY OFF INTERSTATE 59 (43,481 VPD)
• This property sits in front of I-59 (43,481 VPD) and is directly off Hwy 11 (33,361 VPD) and is less than half a mile from I-459 (60,541 VPD).
• The 5 Mile Population is 89,734 and the 1 mile average household income in $112,550.

BIRMINGHAM, AL | 3RD LARGEST CITY IN AL
• Birmingham is the county seat of Jefferson County and is the third most populous city in Alabama with a population of 1,115,289 in the metropolitan area.
• Today Birmingham ranks as one of the most important business and banking centers in the Southeastern U.S. It is home to Regions Financial, BBVA Compass and major auto manufacturers such as Honda, Hyundai, and Mercedes Benz.
• Several of the nation’s largest steelmakers, including CMC Steel, U.S. Steel, and Nucor, also have a major presence in Birmingham. In recent years, local steel companies have announced about $100 million worth of investment in expansions and new plants in and around the city.
• Birmingham-Shuttlesworth International Airport (104,847 Flights per Year) is located only 10 miles away from the subject property.
• Home to multiple universities and colleges including University of Alabama at Birmingham School of Medicine (805 Students), Samford University (3,576 Students), Birmingham-Southern College (1,129 Students) and more.

CORPORATE NNN GROUND LEASE | 20% RENT INCREASE IN 1ST OPTION
• Red Robin has been operating at this location since 2006 and recently extended the lease for an additional 3 years through March 2025.
• Tenant is operating on an absolute NNN Ground Lease and is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure.
• There is a rare 20% rent increase in the 1st option and 10% rent increases in options 2 & 3.

RED ROBIN | 570 LOCATIONS NATIONWIDE
• Red Robin is a publicly traded (NASDAQ: RRGB) casual dining chain founded in 1969 that operates in 570 locations nationwide with over $1.2 billion in annual revenue.
• Red Robin has been operating for 53 years and is headquartered in Greenwood Village, CO.

Don McMinn
OFFERING MEMORANDUM

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